Ormat Technologies Inc (ORA)

Quick ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash	US$ in thousands	195,808	78,079	275,066	414,856	95,872	154,633	263,425	130,006	239,278	267,802	250,009	376,630	448,252	197,309	173,718	231,149	71,173	97,602	110,665	79,366
Short-term investments	US$ in thousands	—	—	—	—	—	—	—	42,927	43,343	45,479	45,960	27,735	98,217	91,277	—	—	—	—	—	—
Receivables	US$ in thousands	520,345	202,707	183,585	180,608	316,640	137,923	142,308	137,311	244,574	167,660	149,569	150,224	394,748	180,846	197,878	196,642	373,123	157,708	155,255	158,189
Total current liabilities	US$ in thousands	537,012	540,034	383,209	390,960	343,910	372,028	353,113	583,991	544,156	534,272	246,229	254,234	248,647	236,303	404,646	567,319	376,476	352,723	276,594	268,090
Quick ratio		1.33	0.52	1.20	1.52	1.20	0.79	1.15	0.53	0.97	0.90	1.81	2.18	3.79	1.99	0.92	0.75	1.18	0.72	0.96	0.89

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($195,808K + $—K + $520,345K) ÷ $537,012K
= 1.33

The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations using its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its current liabilities.

Ormat Technologies Inc's quick ratio has fluctuated over the past eight quarters, ranging from 0.62 to 1.68. In Q4 2023, the quick ratio was 0.95, indicating that the company had $0.95 of liquid assets available to cover each $1 of current liabilities.

The quick ratio in Q4 2023 improved from the previous quarter, where it was 0.67, but was still lower than the levels seen in Q2 and Q1 of 2023. This suggests that Ormat Technologies Inc may have a slightly weaker ability to meet its short-term obligations in Q4 compared to the two previous quarters.

Overall, the trend in Ormat Technologies Inc's quick ratio indicates some fluctuations in the company's liquidity position. Further analysis and comparison with industry benchmarks would be necessary to better understand the company's liquidity management and potential financial risks.